FHLB Cuts Payout

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SAN FRANCISCO - (11/17/04) -- The Federal Home Loan Bank of SanFrancisco said Monday it will pay its member institutions a 3.70%dividend on their mandatory stock. That's down from the 4.68%payout for the second quarter. The dividends will be paid to theregional FHLB's 345 member institutions, including 71 creditunions.

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